This program seeks to facilitate job creation and retain existing jobs. It will attract and facilitate investment with a focus on regional competitive advantage or high-growth potential businesses, and it will assist to diversify the regional employment base.

The Fund aims to improve regional capacity, innovation and capitalise on the potential of emerging industry sectors, particularly the government’s priority areas and new export markets. It is part of the $500 million Regional Jobs and Infrastructure Fund which will invest in growing jobs, building infrastructure and strengthening communities in regional Victoria.

The program will provide support for strategic projects and infrastructure through the following five program streams:
- Investment attraction
- Innovation and productivity
- Market access
- Employment precincts
- Skills development

There are no set minimum and maximum funding limits. Applicants are expected to make a financial contribution or source third-party funding. Priority may be given to projects that are considered investment ready.

Who Can Apply

Eligible applicants include:
- Private sector businesses and agencies
- Business and industry groups including:
a) Chambers of commerce and business associations
b) Industry peak bodies
c) Business and industry clusters and networks
- Local government authorities
- Government agencies
- Not-for-profit organisations and community groups that:
a) Are an incorporated body, cooperative or association.
b) Have an Australian Business Number (ABN) or can provide written advice from the Australian Tax Office that no withholding tax is required from the grant payment.
- Higher education and private training institutions
- Regional organisations (e.g. regional strategic planning alliances)

2. Innovation and productivity
- Adoption of new technology and innovative processes, as well as equipment that drives more efficient use of assets and greater supply chain integration.
- Activities linked to business innovation or commercialisation of technology.
- Collaboration between industry clusters and research centres that strengthen supply chains and competitiveness.

3. Market access
- Projects and activities that provide more comprehensive engagement with new markets, domestically and abroad.
- Industry development, capability building, strategic export development planning and targeted industry cluster development projects for new markets.

4. Employment precincts
- Development or enhancement of land and facilities that generate greater job density and more productive industry clustering including enabling infrastructure that facilitates long-term investment and jobs creation in a precinct by a foundation business or an anchor tenant.

5. Skills development
- Regional business skills development and capability to ensure long-term sustainability of employment and industry growth. Priority will be given to strategic, whole-of-sector, new and innovative approaches to skills and workforce development that make a significant impact.
- Regional projects that improve business productivity; increase workforce and training participation and support disadvantaged groups as part of a long-term, strategic approach for meaningful career-based employment.

Main Assessment Criteria

The main assessment criteria include:
- Direct economic development benefits
- Additional economic development benefits
- Social and environmental benefits
- Alignment with State and regional priorities and demonstrated project need
- Demonstrated project feasibility and delivery
- Financial viability
- Maximising value to the State